Today's News

September 09, 1999, 1:00 a.m. EDT 1 Min Read

WASHINGTON

A HOUSE BANKING subcommittee chairman blasted Fannie Mae and Freddie Mac for not helping more minorities become homeowners. Page 2

THE FASB issued its proposal to ban the pooling-of-interests method of accounting for mergers that is favored by banking companies. Page 2

NATIONAL/GLOBAL

IMAGINE BEING PICKED to represent your company on TV. That happened to 32 employees at J.P. Morgan. "People are our strength," says the executive behind the campaign in a new American Banker column, Ad Libs. Page 3

THE FED voted 5-0 to approve Fleet's acquisition of BankBoston. The only hurdle left is a vote by Massachusetts banking regulators. Page 7

COMMUNITY/REGIONAL

SHARES of Professional Bancorp. plunged after the California company that was supposed to buy it got cold feet. Page 8

THE PARENT of Hawaii's Central Pacific Bank is making changes to end five years of sluggish earnings growth. Page 8

MORTGAGES

JUMBO LOANS -- those too big for Freddie Mac and Fannie Mae to buy -- are costlier than conforming loans and less uniformly priced, a Freddie Mac survey finds. Page 9

INVESTMENT PRODUCTS

SOME BANK BROKERAGE chiefs applauded last week's attempts by the regulatory arm of the NASD to address questionable compensation practices at member firms. Page 11

TECHNOLOGY

SOFTWARE PROVIDER Jack Henry is retreating from international markets, selling Colombia-based BankVision to an employee. Page 12

ON-LINE BANKING

SERVICE DISRUPTIONS caused some on-line brokerages to take orders over the phone and to reimburse some customers for losses. Page 13

MARKETS

BANK STOCKS FELL after a trendless trading session. Back page

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